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The formation mechanism of the delayed crack after flame cutting and mechanical properties in thick NM550 wear-resistant steel are studied by optical microscopy, scanning electron microscopy, energy dispersive spectroscopy, X-ray diffraction, and an electron backscattered diffractometer. The delayed crack is formed at the segregation zone (SZ) located in the center of the 65 mm thick steel plate. The strength of the non-segregation zone (NSZ) with a martensite microstructure is slightly higher than that of SZ with a mixture microstructure of martensite plus bainite, and the plasticity of NSZ is significantly better than that of SZ. There exists a more severe segregation in the SZ, and only a slight segregation in the NSZ. The average grain sizes of the segregation bands in the NSZ and SZ are 15.72 µm and 6.76 µm, respectively. The number density of TiN larger than 5 µm in the NSZ and SZ is 0.031 and 1.156 number/mm2, respectively. Therefore, a high hardness segregation band with fine grains and a high dislocation density, along with the large number of coarse TiN inclusions within it, results in delayed cracking. For TiN inclusions close to the crack, microvoids or microcracks around the TiN are formed, and the delayed crack will propagate along the edge of the TiN or through the TiN inclusions. [ABSTRACT FROM AUTHOR]